Nokia, the Finnish multinational telecommunications company, has announced the signing of a new long-term patent license agreement with Apple. The agreement serves as an extension to their existing license, which is set to expire at the end of 2023. While the terms of the agreement remain confidential, it encompasses Nokia’s innovations in 5G technology and various other technological advancements.
The renewed partnership between Nokia and Apple reflects the strength of Nokia’s extensive patent portfolio, which is the result of significant investments in research and development amounting to over EUR 140 billion euros. The portfolio comprises approximately 20,000 patents, including more than 5,500 deemed essential to 5G technology.
Nokia anticipates recognizing revenue associated with the agreement from January 2024 onwards. This announcement aligns with Nokia’s long-term outlook, as disclosed in the first quarter, highlighting the company’s commitment to leveraging its patent portfolio for sustained growth and innovation.
Jenni Lukander, the president of Nokia Technologies, emphasized that the new agreement underscores Nokia’s exceptional patent portfolio, which has been built over decades through substantial investments in research and development, as well as contributions to cellular standards and other transformative technologies.
The collaboration between Apple and Nokia has a long-standing history, with the two companies sharing a strong partnership. In 2018, Apple appointed Ashish Chowdhary, Chief Customer Operations Officer at Nokia Networks, as the head of its India operations. Chowdhary assumed the role of Apple India head in January 2019.
Since then, Apple has made significant strides in the Indian market, opening two official stores in Delhi and Mumbai. Reports indicate that Apple BKC and Apple Saket have become the country’s largest electronics retail stores in terms of sales. Apple BKC reportedly welcomed over 6,000 visitors and recorded sales worth over Rs. 10 crore on its opening day on April 18. Similarly, Apple Saket, located in New Delhi, also experienced a comparable level of footfall.
The partnership between Nokia and Apple not only reinforces their commitment to technological innovation but also highlights their dedication to expanding their presence in key markets such as India. By leveraging Nokia’s patent portfolio and Apple’s global brand recognition, the companies aim to deliver cutting-edge technologies to consumers and further enhance their market position in the evolving landscape of telecommunications.
